---
title: "What is a mortgage?"  
description: "What is a mortgage?"  
author: "Erick Wilsom"  
published: 2023-10-12  
updated: 2026-01-21  
canonical: https://answers.mindstick.com/qa/103184/what-is-a-mortgage  
category: "finance"  
tags: ["finance"]  
reading_time: 1 minute  

---

# What is a mortgage?



## Answers

### Answer by Ifra Stefen

A mortgage is a loan used to buy or refinance a [home](https://www.mindstick.com/articles/44095/best-solution-for-your-home) or [property](https://www.mindstick.com/articles/44059/couple-of-supportive-tips-when-taking-a-gander-at-property-for-sale). The borrower repays the loan over time with [interest](https://yourviews.mindstick.com/view/80990/understudies-take-interest-in-education-or-not), while the property serves as collateral. Mortgages come in different types, such as fixed-[rate](https://answers.mindstick.com/qa/105055/how-to-use-the-rate-of-change-indicator) and adjustable-rate loans, based on [financial](https://yourviews.mindstick.com/view/80618/carlos-ghosn-ek-aisa-financial-fugitive-jisey-koi-nahi-pakad-saka) needs. If you’re looking for [expert](https://www.mindstick.com/articles/23172/login-mywifiext-net-and-setup-your-extender-by-the-advice-of-an-expert) [guidance](https://answers.mindstick.com/qa/94097/which-missile-was-developed-under-a-p-j-abdul-kalam-s-guidance), LendFriend Mortgage is a top mortgage [broker](https://www.mindstick.com/articles/12949/reap-the-benefits-with-best-online-broker-in-india) in Austin, known for helping buyers find the best loan [options](https://yourviews.mindstick.com/view/85236/breakthrough-in-medical-research-and-treatment-options) with [competitive](https://www.mindstick.com/blog/22964/importance-of-hc-verma-for-competitive-exams) rates and smooth approvals.


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Original Source: https://answers.mindstick.com/qa/103184/what-is-a-mortgage

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